Common use of Insolvency or Bankruptcy Clause in Contracts

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon written notice to the other Party, in the event the other party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party for all or a substantial part of its property, or any case or proceeding shall have been commenced seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain or similar process against, any substantial part of the property of the other Party, and any such event shall have continued for sixty (60) days undismissed, unbounded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equityunder this Agreement, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, Party in the event the other party latter Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party or for all or a substantial part of its property, property or any case or proceeding shall have been commenced or other action taken by or against the other Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition arrangement or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Party, and any such event shall have continued for sixty (60) 90 days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon written notice to the other Party, in In the event the other party that a Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other such Party for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against such Party (as to which, if involuntary commenced against such Party, such Party would not be able to obtain dismissal within 90 days after commencement thereof) in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, then such Party shall not be relieved in any respect of its obligations hereunder, and, in addition to any other remedies available to it by law or there shall have been issued a warrant of attachmentin equity, execution, disdain or similar process against, any substantial part of the property of the other Party may terminate this Agreement, in whole or in part as the terminating Party may determine, by written notice to such Party, and any such event shall have continued for sixty (60) days undismissed, unbounded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, Party in the event the other party Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party or for all or a substantial part of its property, or any case or proceeding shall have been commenced or some other action taken by or against the other Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, effect or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Party, and any such event shall have continued for sixty (60) 60 days undismissed, unbounded and undischarged; provided, however, that no such right to terminate shall pertain solely by virtue of a voluntary reorganization for the purpose of solvent amalgamation or reconstruction.

Insolvency or Bankruptcy. (a) Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, Party in the event the other party latter Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party or for all or a substantial part of its property, property or any case or proceeding shall have been commenced or other action taken by or against the other Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition arrangement or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Party, and any such event shall have continued for sixty (60) 90 days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon written notice to the other Party, in In the event the other party that a Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other such Party for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against such Party (as to which, if involuntary commenced against such Party, such Party is not able to obtain dismissal within 90 days after commencement thereof) in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, then such Party shall not be relieved in any respect of its obligations hereunder, and, in addition to any other remedies available to it by law or there shall have been issued a warrant of attachmentin equity, execution, disdain or similar process against, any substantial part of the property of the other Party may terminate this Agreement, in whole or in part as the terminating Party may determine, by written notice to such Party, and any such event shall have continued for sixty (60) days undismissed, unbounded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, Party in the event the other party latter Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party or for all or a substantial part of its property, property or any case or proceeding shall have been commenced or other action taken by or against the other Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition arrangement or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Party, and any such event shall have continued for sixty ninety (6090) days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, Agreement effective upon on written notice to the other Party, party in the event the other party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party party or for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against the other party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued Issued a warrant of attachment, execution, disdain restraint or similar process against, against any substantial part party of the property of the other Partyparty, and any such event shall have continued for sixty ninety (6090) days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, party in the event the other party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party party for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against the other party in bankruptcy or seeking reorganizationre-organisation, liquidation, dissolution, winding-up, up arrangement, composition or readjustment re-adjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization re-organisation or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain execution or distraint or similar process against, against any substantial part of the property of the other Partyparty, and any such event shall have continued for sixty (60) days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other party (the "Insolvent Party, ") in the event the such other party Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Insolvent Party or for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against the Insolvent Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, up arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain execution or similar process against, against any substantial part of the property of the other Insolvent Party, and any such event shall have continued for sixty (60) days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, party in the event the other party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party party or for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against the other party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Partyparty; and, and in any such case, the event shall have continued for sixty (60) 60 days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party party may, in addition to any other remedies available to it by at law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, party in the event the other party shall have become insolvent or bankrupt, commenced voluntary proceedings in bankruptcy or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party party or for all or a substantial part of its property, or any case or proceeding shall have been commenced or other action taken by or against the other party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Partyparty, and any such event shall have continued for sixty ninety (6090) days undismissed, unbounded unbonded and undischarged.

Insolvency or Bankruptcy. Either Party may, in addition to any other remedies available to it by law or in equity, terminate this Agreement, in whole or in part as the terminating Party may determine, effective upon Agreement by written notice to the other Party, Party in the event the other party latter Party shall have become insolvent or bankrupt, or shall have made an assignment for the benefit of its creditors, or there shall have been appointed a trustee or receiver of the other Party or for all or a substantial part of its property, property or any case or proceeding shall have been commenced or other action taken by or against the other Party in bankruptcy or seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition arrangement or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law of any jurisdiction now or hereafter in effect, or there shall have been issued a warrant of attachment, execution, disdain distraint or similar process against, against any substantial part of the property of the other Party, and any such event shall have continued for sixty (60) 90 days undismissed, unbounded unbonded and undischarged.